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Oil prices skid amid global stock market slump, swelling U.S. supply

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices fell 1 percent on Wednesday, weighed down by swelling U.S. inventories and a plunge in global stock markets as China's government warned of increasing economic headwinds.International Brent crude oil futures were at $61.37 per barrel at 0240 GMT, down 71 cents, or 1.1 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $52.64 per barrel, down 61 cents, or 1.1 percent, from their last close.Oil prices were pressured by a weekly report from the American Petroleum Institute (API) that said U.S. crude ...

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First Published: Wed, December 05 2018. 08:32 IST
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